Oil Traders Lose Faith in Geopolitical Rallies
Richard Soultanian, Co-President of NUS Consulting provides insight into the geopolitical landscape for The Wall Street Journal.
In an article written by Sarah Toy covering the geopolitical landscape, NUS provided their take on the crude market.
“Despite the geopolitical risks looming over crude, the market is still oversupplied”
He pointed to record levels of supply from the U.S. in the past year, and said he isn’t confident the OPEC cuts will meaningfully reduce global supplies.
“Some members, like Iraq and Nigeria, have struggled to curb their output in the past”
“I’m very bearish about oil in 2020”
View the full article: https://www.wsj.com/articles/oil-traders-lose-faith-in-geopolitical-rallies-11578402000